Prize Indemnity

Imagine the turnout and excitement when you offer a valuable prize at your event. Just picture the sign..."Million Dollars for a Hole In One!" You'll be amazed at how little it costs to obtain insurance for this type of event through a Prize Indemnity plan.

Background

If you're hosting a contest (such as a Hole In One) have you considered applying for insurance coverage? Foundation, Alumni, or Support Groups, Registered Student Organizations, and Tenant Users may apply on-line to obtain insurance coverage for the prize offering.

Get a Quote

See how little it will cost to obtain insurance on your Hole in One or other event.

The three factors that determine the cost of Prize Indemnity Insurance are the level of difficulty of the promotion, the number of attempts and the prize value to be awarded. The higher the level of difficulty, the fewer the attempts, and the lower the prize value, the less expensive it will be.

The cost of a One Million Dollar Prize can be relatively inexpensive if the promotion is more difficult. Furthermore, a One Million Dollar Prize can be awarded as an annuity in 20-, 30-, or 40-year increments, or as a lump sum. Choosing to award a One Million Dollar Prize value as an annuity significantly reduces the present value and will decrease the premium as opposed to a lump sum payment.

In most cases, your quote will be instantaneous. However, in a situation where your event does not fit the standard criteria for an instant quote, an underwriter will be notified and will respond within 48 hours.